Last Updated: September 07, 2023, 08:51 IST
Stocks To Watch On September 7: GIFT Nifty on the NSE IX traded 38 points, or 0.19 per cent, lower at 19,625, signaling that Dalal Street was headed for negative start on Thursday. Here’s a slew of stocks that will be in focus today for various reasons.
Safari Industries: Global investment manager Investcorp sold its stake in luggage maker Safari Industries. It realised a total return of Rs 285 crore at 3.8x Multiple on Invested Capital (MOIC) from Safari Industries.
TVS Motor: TVS Motor Company has unveiled the latest addition and a new flagship to its iconic Apache line-up – TVS Apache RTR 310.
Tata Consumer Products: The Tata group company has refuted reports that said it is in talks to acquire a majority 51 per cent stake in the snack and sweet brand Haldiram.
Reliance: The company’s retail arm, Reliance Retail Ventures (RRVL) has entered into a joint venture (JV) with actor Alia Bhatt’s sustainable fashion clothing brand for kids and maternity wear, Ed-a-Mamma, to acquire a 51 per cent stake. According to a source, Ed-a-Mamma was valued at approximately Rs 150 crore. RRVL aims to establish a close collaboration with the founder, Alia Bhatt, and leverage the management strength of its subsidiary, Reliance Brands, to lead the business.
Tata Consultancy Services: TCS on Wednesday signed a strategic partnership valued at £800 million (about $1 billion) with the digital unit of Jaguar Land Rover (JLR) to help the luxury carmaker accelerate the modernisation of its IT infrastructure, and build a new technology architecture that will support its ‘Reimagine’ strategy. The deal is signed for a period of next five years.
REC: State-owned REC on Wednesday said it raised $1.15 billion in August in two tranches from a consortium of six banks. Proceeds of the loans shall be utilized to fund power, infrastructure and logistics sector projects as permitted under the ECB guidelines of the Reserve Bank of India. The funds have been raised under REC’s Market Borrowing Programme of Rs 1.20 lakh crore for 2023-24.
In a separate statement, the company said it has signed a Foreign Currency Term Loan Agreement for $100 million with Export Import Bank of India (Exim Bank). This is the first term loan being extended by Exim Bank to REC. The loan has been tied up for a 5-year tenor and is benchmarked to SOFR.
Biocon: The company’s subsidiary Biocon Biologics (BBL) said it has completed the integration of the acquired biosimilars business from Viatris in North America (United States and Canada) effective September 1, 2023.
Lemon Tree Hotels: The hotel company has announced its latest signing – Lemon Tree Hotel, Mashobra. The property is expected to be operational by Q1FY26 and shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels.
Power Finance Corporation: The company has fixed Thursday, Sept 21st as the record date for its bonus issue in the ratio of 1:4 that is 1 equity share will be issued for every 4 existing equity shares of the company.
PNC Infratech: The company’s arm, PNC Raebareli Highways, will settle the NHAI dispute with a one-time settlement of Rs 107.17 crore. The settlement amount represents 65 per cent of the total ‘eligible disputes’ amount.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.